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    Risks to the revenue and collection cycle

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    Explain some risks to the revenue and collection cycle that are the result of improper revenue collection.

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    When improper revenue amounts are reported as income, the risks are that

    1. Revenue is overstated (or even understated) and usually the result of a timing issue or cut-off problem.
    2. Revenue ...

    Solution Summary

    The solution provides a listing of seven types of problems or risks when revenue is improperly reported.